BUS 475 Strategic Planning

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Strategic Planning1Strategic PlanningNameBUS 475InstructorDate1.Power House Gym is expanding its business by launching a new division to offer onlineaccess to various exercise routines, healthy recipes, and additional services. In light ofthis, address the following:2.Discuss the strategic plan Power House Gym is proposing for growth and expansion.How does the inclusion of the new division contribute to the company’s future success?Evaluate the strengths and potential risks of these strategies, including competitiveanalysis, marketing campaigns, and customer engagement.3.Analyze the ethical, legal, and regulatory concerns related to both the new division andthe existing gym facilities. How does the company plan to address these issues, and whatpotential challenges might arise?4.Evaluate the effectiveness of utilizing technology and social media platforms (e.g.,Facebook, YouTube, and Google Analytics) in promoting the new division. How canPower House Gym benefit from these digital marketing strategies in terms of customeracquisition, retention, and brand awareness?5.Word Count Requirement:1,500–2,000 words.

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Strategic Planning2Table of ContentsExecutive Summary3Strategies5Conceptualizing in Business7SWOTT Analysis11Balance Scorecard17Reference23Executive SummaryPower House Gym initially opened its entryway in 1975; it initially began as anexercise center office where the area can do their activities. Inevitably proficient competitorsbegan to prepare at Power House Gym, competitors, for example, Tommy Hearns and TommyPlatz. In 1984 Power House Gym began their endeavor of developing the organization byfranchising. Quick forward to the present Power House Gym has now 300 establishments inUnited States and in 17 nations around the world. Indeed, even with current accomplishment ofPower House Gym the organization would not like to stop there. Power House Gym is proposinganother division to further develop and extend the organization both state side and all around,without the expense of block and mortar. The new division will give an influence and focusededge to which some our rivals don't have. The new division will encapsulate the mission of"more than a wellness, its a lifestyle". Notwithstanding having an influence and focused edge thenew division will likewise give an additional administration and accommodation to our presentand future clients.

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Strategic Planning3The new vision for the division was created with our customers in mind. PowerHouse Gym realized that at times the option of going to the facility to exercise is not an optiondue to busy schedules of our customers. We also put into considerationthe global downfall ofthe economy. With the new division added to our program our current and future customers willhave the opportunity to exercise anytime and anywhere. On top of having the ability to workoutanytime and anywhere Power House Gym also made the new division affordable so everyonehas the opportunity to take advantage of what we have to offer. To promote the new division thegoal is to take advantage of the technology and current marketing trend. Power House Gym hasalso put into consideration the potential ethical, legal, and regulatory issue that may occur duringthe process of the new division. In this proposal Power House Gym has divided the strategies weplan to implement into three partswhich are conceptualizing in business, SWOTT analysis, andbalance scorecard. These three categories will further explain the new division’s vision in moredetail and how it will guide Power House Gym for continues success for the future to come.StrategiesIn order for Power House Gym to grow and expand analyzing the competition will bepart of the strategy. Researching their services have to offer in comparison to what Power House

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Strategic Planning4Gym should, should provide a competitive edge for the company. Also looking into theirmarketing campaign could provide some insights of what may or may not work. To expand andgrow the companyPower House Gym is planning on adding a new division that will providevarious types of exercises that could access through the Power House Gym website. On top ofthe various exercises healthy recipes will also be included with the new service along with otheroptional service. Qualified and certified trainers, nutritionist, and consultants will provideexcellent customer satisfaction and will be a vital part of the strategies to grow and expand thecompany.A new marketing campaign will be launch to promote not only the new division but thecompany as a whole. With the growth of technology Power House Gym is planning to take fulladvantage of this to minimize the cost of marketing and receive a higher ROI. Power HouseGym will be implementing both paid and free advertising through online marketing and socialmedias such as Facebook, Twitter, Youtube, Vimeo, and Podcasting are just some examples onhow we are going to take advantage of technology for our marketing campaigns. Forthe paidadvertising CPC (cost per click) through search engine such as Google and Bing will be utilize,using the this form of marketing will allow Power House Gym to monitor the traffic anddemographic potential clients. The same concept will also be used with Facebook as far CPC, theadvantage of paid marketing with Facebook is it allows the marketer to target the audience bycountry, state, city, gender, age, and interest providing accuracy for the marketer. Just like searchengineslike Google, Facebook also provides analytics of the marketing campaignand it is moredetailed. As far as free marketing campaign a currently the company already has a website andbusiness page on Facebook. The website will continue is operating with and additional focus onSEO (search engine optimization) and utilize Google Analytics to monitor its progress. Business

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Strategic Planning5page on Facebook will allow Power House Gym to stay connected with current and futurecustomers allowing them to voice any suggestion or concerns about the company. This will alsobe a good way to monitor what our customers are thinking since they are the lifeline of thecompany.To increase the presence of Power House Gym Video Marketing will also beimplemented as part of the marketing campaign, Youtube and Vimeo will be utilize for the videomarketing. Video marketing will include announcements of new product and service along withtips on healthy living, tips on proper work out techniques without giving out all the information.While video marketing is an affective form of advertising one the biggest advantage it hascompare to other type of marketing is it providesa more personal presence.As mentioned earlier the lifeline of Power House Gym is its customers however, thebackbone of the company is the people in the organization. To continue the success of PowerHouse Gym and avoid and ethical or legal issues each employees credential will be verified. It iseasy for anyone to falsify their credential considering that Power House Gymservices is allabout healthy living and physical fitness of our clients any wrong information could potentiallyhurt our clients which is why it’s vital to verify employees credential. Furthermore in addition toverifying employees credentials video surveillance will be added to each facility not only forethical and legal or regulatory issues but the safety ofitscustomers and employees as well. Asfar as the new division since Power House Gym cannot monitor the actions of what they do ontheir own homes or wherever they may be. To avoid any ethical, legal or any regulatory issuesbefore having access to the new division the customers will have to sign an electronic signatureacknowledging an agreement of any type of exercises performed outside the Power House Gymfacilities will be at their own risk since Power House Gym cannot monitor their activities. Thesame agreement will apply for the recipes provided by new division if not followed properly.

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Strategic Planning6Conceptualizing in BusinessA well thought of strategic plan not only plays a big role in thesuccess of any small orbig organization, it is also imperative for its growth. In any effective strategic plan starts with awell-considered and mission statement, vision, and value. These three categories are beneficial toits shareholders, employees, and its customers. Besides being beneficial for the company andtheir shareholders, they are also the driving force that provides guidance to the direction that thecompany is going to. It is also what separates the company from its competitors and it alsoprovides value and ethics within the company.Business, Products, and Customers: Mission StatementPower House Gym is a gym facility that provides that not only provides equipment forits clients to work out on, they also provide other services such as group exercise classes,childcare, personal training, staff nutritionist, power express line, small group training, sportspecific training. The current mission statement is “More than fitness, it’s a way life of life. AtPowerhouse Gym we are committed to helping others change their lives through exercise. Ourfriendly and professional staff will inspireand support you in commitment to enhance the qualityof your own life”. The mission statement will be the driving force of the new division that willbe at added to the arsenal of Power House Gym. There are many competitors out there for PowerHouse Gym that may offer the similar services. With the consideration of its current customersand potential customers we realized that not everyone will has the ability or convenience toalways utilize the benefits a gym facility can provide. To separate Power House Gym from othergym facilities a new method will have to be added for its current and potential clients. The newmethod will be adding videos that has several types of workout or exercise training that could

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